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Future unknown for Topeka Radio Shack stores

Topeka's Radio Shack stores, including this one at 2859 S. Kansas Ave., don't yet know if they are among the 1,100 the company plans to close.

Employees of Topeka’s RadioShack stores said they don’t know if they will remain open while the company closes about 20 percent of its stores.

RadioShack announced Tuesday it will close 1,100 stores, or about 20 percent of its locations. About 4,000 stores, including 900 franchise locations, will remain open after the closures. It didn’t disclose how many employees would lose their jobs.

The electronics retailer has three locations in Topeka. They are at 2028 N.W. Topeka Blvd., 2859 S. Kansas Ave. and 1530 S.W. Wanamaker Road.

Employees answering the phones Tuesday morning said they hadn’t heard if their locations would remain open, and that the company hasn’t released a list of stores slated to close. A message to RadioShack’s media relations department wasn’t returned.

RadioShack CEO Joseph Magnacca told the Associated Press decisions about closing stores would be made based on location, area demographics, lease duration and financial performance.

RadioShack’s earnings have disappointed in recent years as more people shop online and growth in the smartphone market slows, according to analysis by the Associated Press. Less than three years ago, its stock still traded for more than $20, but as of Tuesday it sold for $2.29.

For the last quarter of the year, which includes the holiday shopping season, RadioShack Corp. lost $191.4 million, or $1.90 per share. It had lost $63.3 million, or 63 cents per share, in the same period a year earlier.

The losses were worse than analysts had anticipated. Predictions said, on average, that the company would lose 16 cents per share and have revenue of about $1.12 billion. Sales at stores open at least a year — a key indicator of a retailer’s health because it excludes more volatile sales in new markets — fell 19 percent.

RadioShack reported a full-year loss of $400.2 million, or $3.97 per share. In 2012 it lost $139.4 million, or $1.39 per share.